The slope of a production possibilities frontier

A) is always varying.
B) measures the opportunity cost of producing one more unit of a good.
C) has no economic relevance or meaning.
D) is always constant.


B

Economics

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Is a firm technologically efficient if it uses the latest technology? Why or why not?

What will be an ideal response?

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Assume a firm has the following cost and revenue characteristics at its current level of output: price=$10.00 . average variable cost=$8.00 and average fixed cost =$4.00 . This firm is

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Open and explicit agreements concerning pricing and output shares transform an oligopoly into a

A. Differentiated oligopoly. B. Monopoly. C. Perfectly competitive firm. D. Cartel.

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